BYD sales stumbled with the increase in competition in electric cars in China

The pressure is pursuing the company “Byd”, as the largest electric car manufacturer in China has a stagnation in its monthly sales after a sudden drop in its profits that shock investors, at a time when smaller and more flexible businesses tackle their market share. Total Byd sales in August rose by only 0.1% compared to the previous year, reflecting the problems the company faces, to maintain its competitiveness. The most important rival “Geely Automobile Holdings” increased by 38% in the same month, while Zhejiang Leapotor Technology and “Nio (Nio) announced record deliveries. facing, and is referred to a mysterious future for the rest of the year. The growing competition and organizational investigation, the highlight of the “bed” sales of “Byd” peak season in sales during September and October without relying on discounts, in an effort to address competitors who offer elegant models with advanced technologies at similar prices. According to the “Bloomberg News” accounts, the sales of the local company, after excluding foreign and commercial consignments with about 15% last month, dropped. Beng “and” Li Auto “. But these smaller brands are having a fierce battle to attract consumers.” Lep car “, supported by Stelantis NV, managed to seize a 1.7%market share, which benefited from launching new models that contributed to record sales of 57.066 units in August. handed over, but in the last quarter it needs a strong performance to reach its annual goal of 580 thousand to 650 thousand units. Fared by Xiaomi, the newcomer in the car sector, which is mainly known as the production of smartphones, was delivered more than 30,000 electric cars in August, which brought their total sales to about 210,000 units this year. Announcement, dropped by 30%in the second quarter, which led to the eradication of about $ 6 billion of its market value on Monday, after the shares dropped. “Byy” is likely to reach this goal, and the question is how much you will get away from it.